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Topic: inventory management software

Online Inventory Management: What it is and Why it’s Important

In this comprehensive guide to online inventory management, we’ll take a look at what it is and why your product-based business can’t do without it. We’ll also cover Online inventory management for manufacturers Online inventory management for retailers Online inventory management for wholesalers Online inventory management vs on- ... Read More

  April 12, 2021     

The 19 best inventory management software features to look for

The best inventory software solves a lot of problems – and should open up opportunities too. Below we explain the must-have inventory management software features you need when investing in a proper inventory management software solution. We’ll also look at some of the value-adding bonus features of the best inventory management software soluti ... Read More

  March 12, 2021     

How to Calculate Inventory Turnover

Inventory management is a critical function of any business, with drastic implications on profit margins. Stock the right goods at the right levels and you can reduce carrying costs, mitigate the risk of shrinkage and still please customers. Get it wrong and those risks climb. Inventory turnover is a key formula that’s often discussed in [&hellip ... Read More

  January 6, 2021     

How to Calculate Average Inventory – The Complete Guide

Calculating average inventory is an extremely important part of your overall inventory strategy because it is the basis of knowing how much stock you should have on hand. In this article, we’ll explain the average inventory and show you how to calculate it with examples. We’ll also shed some light on Economic Order Quantity and [&hellip ... Read More

  December 10, 2020     

7 types of manufacturing wastes and how to reduce them

Manufacturing waste is something business owners often overlook, yet left unchecked, it can cost a business a significant amount of money. From transportation waste, inventory waste, defective products and more, waste can accrue in a range of areas across the company. This article explores the different types of manufacturing waste, and how to redu ... Read More

  October 22, 2020     

5 Tips to Improve Omnichannel Inventory Management

The world of commerce is an ever-changing one. Tech developments such as 5G and the Internet of Things are reshaping everyday life. And that includes how we all shop. Customer support is evolving with social media, artificial intelligence and unified communications. That’s a lot for any eCommerce business to keep up with. Some things, though, [&h ... Read More

  June 25, 2020     

The Big B2B-B2C Pivot: How Your Stock Management Must Change

If you’re a B2B company and you’ve recently set up an online store to sell direct to consumers — or are even thinking about it — then good on you. There’s no denying there are still big challenges ahead though. As you’ve no doubt already realised you don’t just need to set up an online […] ... Read More

  April 23, 2020     

App Advisory is the Next Strategic Move for Accountants

As an accountant, clients need your support now more than ever. How you support them has changed over the years and will continue to evolve. The role of accountants used to involve a lot of manual, tedious tasks that clients would outsource for help getting it done. However, with cloud technology, these traditional tasks are […] ... Read More

  April 1, 2020     

Inventory Management Uncertainty? You’re Not The Only One

If you’re trying to get on top of your inventory management, but struggle with the many unknowns involved with inventory control, you’re not alone. It’s difficult to predict demand and how the economic environment will impact your business. It changes how you buy and reorder your stock. Deciding whether you want to reorder stock can [… ... Read More

  March 20, 2020     

Learn to Save Your eCommerce Business Money With Inventory Control

There’s never been a better time to operate an eCommerce business. Shoppers are prolifically turning to online shopping for whatever they need. Whether it’s clothing, food, sports gear or even toiletries, people constantly seek it out on the internet. They compare prices, try to get the best deal and maximise their convenience. There’s a lot ... Read More

  February 28, 2020     

How Do Inventory Risks Impact Your Business?

Understanding the types of inventory risks that may be impacting your business will shed light on the best strategies to mitigate against these risks for your inventory control needs. Types of inventory risk As an owner or manager of a business, you need the right products in stock at the right time to be available […] ... Read More

  February 25, 2020     

How Can Small Businesses Make the Most of Big Data?

Having access to information about competitors and customers can be key to the growth and success of a business. For smaller businesses just starting out, they may not have adequate resources to capture this information — and managers may not know what metrics to look out for. In this article, we explore what big data […] ... Read More

  February 21, 2020     

How Can Your SME Benefit from Cloud-Based Software?

The cloud has shaped the way businesses, big and small, operate on a daily basis. The cloud provides a central storage facility that can keep data on the internet. Since data is stored online, it can be accessed from any location, on any device that has the internet. The cloud is broadening the scope of […] ... Read More

  February 11, 2020     

How Does Inventory Management Affect Cashflow?

Good cashflow is key to the success of every business. Bad cashflow can have seriously negative effects on the overall productivity of the business, including a negative impact on the businesses bottom line. Growing businesses may not realise that good inventory management can actually be make-or-break for the quality of a company’s cashflow. In ... Read More

  January 31, 2020     

Your Cashflow and Inventory Go Hand in Hand

Cashflow and inventory go hand in hand when it comes to managing your business. Inventory can either help a business with cashflow or be a bit of a hindrance. How you manage your inventory will directly impact the movement and availability of your cash. Your accounting method plays a big role in how your cashflow […] ... Read More

  January 21, 2020     

5 Strategies to Improve Cashflow for Manufacturers, Wholesalers and Retailers

Any business needs good cashflow to prosper because cashflow provides the funds necessary to pay bills, cover operating expenses, purchase inventory stock, pay employee wages, provide positive customer experiences and to invest back into the business. Cashflow represents the money available at any given time to keep a business running. It accounts ... Read More

  January 17, 2020     

How Inventory Control Can Benefit from Artificial Intelligence

Effective inventory control centres on the fine balance of holding enough inventory to ensure the business operates effectively while avoiding the overstocking that ties up valuable cashflow and leads to waste. Inventory control can benefit from artificial intelligence (AI) because AI provides powerful insights for companies, highlighting interesti ... Read More

  January 16, 2020     

Overcoming Inventory Challenges with Cloud Software

Effectively managing inventory is key to the success of companies in the business of selling goods. Without accurate and efficient inventory management, a business can experience delays in order processing, overstocking or understocking and more. These things end in customer dissatisfaction, and ultimately the demise of the business. Traditional in ... Read More

  November 2, 2019     

Online Inventory Control and the Importance of Purchase Order Tracking

A purchase order (PO) represents a legal contract between a business and its suppliers for the purchase of goods and services. POs help to ensure that the right quantity of goods or services is delivered in a specified time frame and at the level of quality expected. They also provide a framework for accurate inventory […] ... Read More

  October 29, 2019     

The Unique Challenges Inventory Management Poses to the Restaurant Industry

Restaurants are arguably one of the most challenging businesses in which to control inventory; the fundamental nature of supply, demand and the products themselves set them up for a fickle inventory ride. They are governed inevitably by seasonal availability and subsequent pricing, trends and individual palates, health and safety compliance, the pr ... Read More

  October 21, 2019     

West Winds Gin Unlock Cloud App Benefits Using Unleashed Software

Having the right inventory management software in place that will grow as you scale your business can deliver immeasurable benefits — just ask Paul White, CEO of West Winds Gin. He shares his company’s journey of transitioning from spreadsheet to cloud software. Here’s their story. Good gin’s important because life’s too short to drink ba ... Read More

  October 15, 2019     

Let Cloud Inventory Management Software Solve Your Common Inventory Problems

Let’s take a look at your inventory stock and see how you are managing it. There are a series of common inventory problems that arise. Some issues can be fixed simply and other issues are much deeper rooted. However, if you implement cloud inventory management software to manage your  stock, this can alleviate some of […] ... Read More

  October 14, 2019